Bitcoin has fallen below $100,000, reaching its lowest level in six months and trading 20% below its record high of $126,000. Long-term holders have sold more than 1 million coins since June. Analysts caution that weakening support could drive prices toward $70,000, according to CoinGecko data.

Strategy Inc. has completed a $715 million Series A Perpetual Stream Preferred Stock offering at $80 per share, with proceeds earmarked for Bitcoin purchases and operational liquidity. The offering exceeded its initial $405 million target due to strong institutional demand. The company's Bitcoin holdings now total 641,205 BTC with a cumulative acquisition cost of approximately $47.49 billion.

ARK Invest has reduced its bullish Bitcoin price target for 2030 from $1.5 million to $1.2 million per coin. CEO Cathie Wood attributed the $300,000 downward revision to faster-than-expected stablecoin adoption in emerging markets, where digital dollar equivalents are increasingly used for transactions and savings. Wood maintains that Bitcoin retains its role as digital gold and the crypto ecosystem's reserve currency, with stablecoins serving complementary functions in everyday commerce.

Bitcoin has declined to around $100,200 after giving up gains above $104,000. The Coinbase Premium Gap—measuring the price difference between Coinbase (USD pair) and Binance (USDT pair)—has stayed negative over the past week, indicating sustained selling pressure from Coinbase users, particularly U.S.-based institutional investors, according to CryptoQuant analyst Maartunn.

Bitcoin's Market Value to Realized Value (MVRV) ratio has declined to the 1.8–2.0 range, a valuation zone that has historically coincided with major market bottoms. The metric, which compares Bitcoin's market capitalization to its aggregate cost basis, reached similar levels during market lows in June 2021, November 2022, and April 2025, according to market analysts.

Long-term Bitcoin holders have sold approximately 790,000 BTC in recent weeks while buyer demand has contracted since early October, according to CryptoQuant data. Short-term apparent demand has remained negative for roughly 30 days. Bitcoin declined over 5% from around $110,000 to above $103,000 as selling pressure outpaced incoming capital.

A trader holding a $190 million short position on Bitcoin faces liquidation at $104,017, with BTC currently trading at $103,660. The position requires only a 0.34% price increase to trigger one of the largest single wipeouts in crypto history, according to Arkham Intelligence.

JPMorgan Chase expanded its position in BlackRock's iShares Bitcoin Trust by approximately 2.07 million shares during the third quarter, reaching a total of 5.28 million shares valued at around $333 million as of September 30. The bank's ethereum ETF allocation remained minimal at 66 shares worth approximately $1,700. The expansion comes as JPMorgan analysts project bitcoin could reach $170,000 within six to 12 months.